Money and insurance

Should you buy an iPhone 15? Here are some things to consider

The release of the iPhone 15 has stirred excitement among tech enthusiasts and Apple aficionados worldwide. With its promise of flashy new features and sleek design, it's easy to understand why many people are eager to get their hands on it. However, before you rush to make the purchase, it's essential to take a step back and carefully consider whether buying an iPhone 15 is the best choice for you.

The much-coveted iPhone 15


Apple has a knack for making us want the latest and greatest, and the iPhone 15 is no exception. It boasts impressive upgrades, like a stellar camera, lightning-fast processing, and a dazzling display. But at PhP 55,000 to PhP 85,000 price range, it can make a dent in your savings.

So, before you get caught up in the hype, here are some things to consider before taking the plunge:


1. Do you really need it?

 First and foremost, ask yourself if you truly need the iPhone 15. Take a look at your current smartphone and evaluate its performance. If your current phone meets your daily needs and is in good working condition, consider whether the improvements offered by the iPhone 15 are essential for your life or work.

2. Consider your budget

 The iPhone 15 comes with a price tag that can be hefty depending on the storage capacity and model you choose. Assess your financial situation and ensure that purchasing this device won't strain your budget or hinder your ability to meet other financial goals.

3. Alternatives and upgrades

Before committing to the iPhone 15, explore alternatives and potential upgrades. Your current phone may have several years of life left with a simple battery replacement or software update. Consider whether such upgrades can provide a satisfactory solution without the expense of a new device.


Smart ways to use your money that gives lasting benefits

Now, let's delve into some alternative ways to use your hard-earned cash that could potentially offer more significant and lasting benefits:

1. Crush your credit card debt

It might not be the most exciting option, but it's financially smart. Paying off credit card debt liberates you from the burden of compounded interest, allowing you to free up your finances and save thousands of pesos that would otherwise be spent on interest payments over the next year.

2. Invest in health insurance

If you're currently without insurance, it's time to explore your options. Consider not only basic health coverage but also life insurance, which often doubles as an investment plan. Such plans allow you to build savings while safeguarding yourself against unforeseen health issues or events that could disrupt your income.

3. Start your own business

Why not allocate that PhP 50,000 towards starting your own business? While it may seem insufficient at first glance, many successful businesses have started with even less capital. Starting your own enterprise offers the freedom of being your own boss and the potential for significant rewards.


4. Get into investing

Want to dip your toes into the world of stocks or mutual funds? Your iPhone 15 fund could become your investment fund. You don't need to be a financial wizard to get started; there are plenty of user-friendly options out there.

5. Learn a new skill

Ever thought about upgrading your skills? Whether it's learning a new language, taking an online course, or getting a certification in your field, investing in your own growth can pay off big time in the long run.

6. Feed your wanderlust

Instead of the iPhone 15, how about putting that money towards travel? Exploring new places, meeting different people, and immersing yourself in other cultures can be an incredible investment in personal growth and unforgettable experiences.

7. Create an emergency fund

Why not create a second savings account, one without an ATM card for easy access? It won't give you that shiny new phone, but it'll give you PhP50,000 in the bank. You'll appreciate having that extra stash when an unexpected expense pops up.


Feel inspired by these ideas?

Fantastic! Don't limit yourself to this list; explore other opportunities that align with your financial goals and aspirations. Regardless of how you choose to allocate your money, the gratifying part is that you'll be growing your wealth (or at least safeguarding it) instead of simply acquiring another gadget.